Interest Only Morgage Calculator tools work like regular loan calculators except rather than providing a monthly payment based on both principal and interest payments they only provide a payment based on the Interest Only portion of the loan. What most of these calculators fail to consider, though, is your predicament if you actually remain in an interest only morgage after the expiration of the interest only period. What typically happens after the expiration of this period is that the unpaid interest must be 'made up' over the remaining term of the loan. This means your actual payments from that point on will be significantly higher than if you hadn't had an interest only loan (Click Here for morgage rates Information) .Because an Interest Only Morgage Calculator can't predict how often you'll use the interest only function of your loan it can not accurately predict how much your payments will increase after the expiration of the function. So if you plan on getting such a loan keep in mind that your payments will increase fairly substantially at some point in the future (usually 5 or 10 years depending on your type of loan) so you may want to refinance out of that loan in the future. your-morgage-calculator.com is a proud member of the Mortgage Net Branch Network of Companies. This company makes mortgage net branch programs available to lenders and brokers nationwide.